Chipmaking bellwether

Intel

(INTC) - Get Report

was down 0.7% in preopen

Island

trading after

Credit Suisse First Boston

downgraded it to hold from buy, saying a substantial recovery in 2001 is unlikely.

CSFB also downgraded chipmaker

Texas Instruments

(TXN) - Get Report

to hold from buy due to valuation. Texas Instruments was down 2.5% in preopen

Instinet

trading.

In addition, CSFB downgraded communications chipmaker

Broadcom

(BRCM)

to hold from buy. It was down 3%.